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- H.R.4616
H.R.4616: Adjustable Interest Rate (LIBOR) Act of 2021
About This Bill
- Introduced July 22, 2021
- Latest Major Action March 3, 2022
Bill Sponsor
Bill Versions
- Referred in Senate - Dec. 9, 2021
- Engrossed in House - Dec. 8, 2021
- Reported in House - Dec. 7, 2021
- Introduced in House - July 22, 2021
Bill Summary
Adjustable Interest Rate (LIBOR) Act of 2021 This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain...
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
| Date | Description |
|---|---|
| March 3, 2022 |
Committee on Banking, Housing, and Urban Affairs. Hearings held.
|
| Dec. 9, 2021 |
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
|
| Dec. 8, 2021 |
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 9 (Roll no. 407).
|
| Dec. 8, 2021 |
Considered as unfinished business.
|
| Dec. 8, 2021 |
Considered under suspension of the rules.
|
| Dec. 8, 2021 |
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 9 (Roll no. 407). (text: CR H7479-7481)
|
| Dec. 8, 2021 |
Considered as unfinished business. (consideration: CR H7529-7530)
|
| Dec. 8, 2021 |
Considered under suspension of the rules. (consideration: CR H7479-7486)
|
| Dec. 8, 2021 |
Motion to reconsider laid on the table Agreed to without objection.
|
| Dec. 8, 2021 |
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
|
| Dec. 8, 2021 |
DEBATE - The House proceeded with forty minutes of debate on H.R. 4616.
|
| Dec. 8, 2021 |
Mr. Sherman moved to suspend the rules and pass the bill, as amended.
|
| Dec. 7, 2021 |
Placed on the Union Calendar, Calendar No. 147.
|
| Dec. 7, 2021 |
Committee on Education and Labor discharged. |
| Dec. 7, 2021 |
Committee on Ways and Means discharged. |
| Dec. 7, 2021 |
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-206, Part I.
|
| July 29, 2021 |
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
|
| July 29, 2021 |
Committee Consideration and Mark-up Session Held.
|
| July 28, 2021 |
Committee Consideration and Mark-up Session Held.
|
| July 22, 2021 |
Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
|
| July 22, 2021 |
Introduced in the House by Brad Sherman (D-Calif.) |